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They didn't touch his salary. It was his bonus (what they euphemistically describe as his "variable compensation award") that took the hit. Taking a hit to you
by pdpi 10y ago
They didn't touch his salary. It was his bonus (what they euphemistically describe as his "variable compensation award") that took the hit.
Taking a hit to your bonus because you messed up big time is perfectly standard.
- emodendroket 10y ago"Absolutely standard" for whom? What percentage of the workforce even has one, excluding $50 gift cards and other such token gestures?
- pdpi 10y ago"Absolutely standard" for the financial industry, which is the context for this story. It's an industry well known for having a large part of compensation paid as a performance-based bonus.
- chmod775 10y agoFor software developers (especially in SV) bonuses can be quite a big chunk of their "paycheck".
- koolba 10y agoIt's standard for companies that pay large bonuses (as a percentage of salary). That's the whole point. It's a carrot they dangle in front of you that you get to break off the string once a year.
- freehunter 10y agoI would hope that many (if not most) white-collar workers are getting some kind of profit sharing bonus, Christmas bonus, employee of the month, or some kind of incentive for a job well done beyond the bare minimum performance your salary is meant to represent. Certainly every office job I've ever had I've gotten periodic bonuses for doing a good job, and I've also not received bonuses in times when I did not do a good job.
- emodendroket 10y agoYou would hope in vain then.
- w0m 10y agoI'd assume most tech workers. Most that i'm personally aware of 'bonus' have an individual performance multiplier attached. Can get <Standard> * 2 or <standard> * .5 depending how well you (and/or the company) performed that year.
- reitanqild 10y agoHaven't had one for the last 5 years. The job I'm starting in next month has though. Here in Norway bonuses doesn't seem to be considered mandatory.
- test6554 10y agoIf it's mandatory, then it's not a bonus. It's just salary.
- reitanqild 10y agoPoor wording from my side I guess. I mean it seems like some companies has to offer bonuses to attract talent while only very successful companies or companies that sometimes compete for top talent offer it for engineers here.
- emodendroket 10y agoEven for tech workers I'm not sure I'd describe it as standard; maybe it's different in different markets or particular fields.
- purple-again 10y agoNearly every profession in the United States. CPAs, law firms, architects, etc. I can't speak for the trades as I have no experience their but I imagine licensed plumbers and electricians that work for large companies get bonuses as well.
- test6554 10y agoA bonus that is designed to reward individual performance/behavior is the ideal place to cut when individual performance/behavior suffers.
- krzyk 10y agoIf you messed up you in some cases (depends on the messing up, but this one qualifies for me) lose job, not just get smaller bonus.